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The cost of all natural disasters in the United States has doubled in the last decade, from roughly $25 billion to $50 billion a year. Research has yet to reveal clear reasons behind this phenomenon, though many experts point not to climactic changes but to the growing concentration of wealth and population in coastal areas of the country, which are most at risk from natural disasters. The publication of Real Estate Damages comes at a fortunate time, with property damage increasing at a geometric rate and appraisers looking for practical solutions to a variety of new valuation problems.

 

Under normal circumstances, estimating property value poses a set of logistical challenges. The specific issues arising from soil subsidence problems, earthquake damage, environmental contamination, and other detrimental conditions complicate the process further. With the publication of this book, the Appraisal Institute hopes to take the guesswork out of appraising property affected by detrimental conditions from crime scene stigma to environmental contamination and to help practitioners develop the skills they need to analyze these tragic and often emotional situations effectively. Ten classifications of detrimental conditions are thoroughly discussed, each in its own chapter. Case studies and examples of actual detrimental conditions are presented, and listings of reference works and government contacts on the state and federal levels make Real Estate Damages the most complete resource on the subject available.

 

About the Author
Randall Bell, MAI, is a principal with Bell Anderson & Sanders LLC, in Laguna Beach, Calif. His firm specializes in damage economics, valuation, and expert witness testimony related to environmental and geotechnical issues, natural disasters, eminent domain and other detrimental conditions. Mr. Bell founded and directed the property damages practice at Price Waterhouse and sits on the Advisory Board of the Bureau of National Affairs. He can be contacted at Real Estate Damage Economics, Bell Anderson & Sanders LLC, 496 Broadway, Laguna Beach, CA 92651 or by Phone: 949-497-7600, Direct: 949-497-7607, or by Fax: 949-497-7601, or by email: Bell@RealEstateDamages.com.